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Exchange traded funds

Posted by Team AVS on 16 Oct, 2024  0 Comments

How ETFs work

An ETF is a managed fund that lets you buy or sell units on a registered exchange such as the Australian Stock Exchange (ASX).

When you invest in an ETF, you purchase units in a trust that owns investments, rather than owning the assets personally.

Many online trading platforms allow you to purchase ETF units yourself, or you can use a broker or financial adviser to buy units in an ETF.

What types of investments can be h

Time is running out to lodge your own tax return

Posted by Team AVS on 8 Oct, 2024  0 Comments

The ATO is reminding taxpayers that the due date for individuals who lodge their own income tax return is 31 October 2024.

The Australian Taxation Office (ATO) is reminding taxpayers that the due date for individuals who lodge their own income tax return (31 October 2024) is fast approaching.

As of 22 September, the ATO had received over 7.9 million income tax returns from individuals for the 2024 financial year. Over 4 million individu

Deny deductions for ATO interest charges

Posted by Team AVS on 3 Oct, 2024  0 Comments

After 1 July 2025 taxpayers will no longer be able to claim for ATO interest charges.

On 13 December 2023, as part of the 2023–24 Mid-Year Economic and Fiscal Outlook (MYEFO), the Government announced it will amend the tax law to deny deductions for ATO interest charges. This measure is not yet law.

This measure will mean that taxpayers will no longer be able to claim deductions for general interest charges (GIC) and shortfall interest c

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